Neiman Marcus before Household, during... then last year and now Capital One... Question, CL?

[Creditaddict]

I worked for Neiman Marcus many many years ago and they use to underwrite the credit card themself if not mistaken and then sold to Household, I was thinking to myself when that happened I didn't think of them a prime bank AT ALL and kept thinking how can this sub prime bank even take on the sort of credit lines or not even credit lines, the purchasing power of some individuals of over 1 Million.  It did get worse I feel in beginning but it was still more charge card (internal type limit) but at "Minimum" you could go over internal line by 30%. Then last year, late I think they started coming around and issueing hard limits.

1. Did you get your card before Household or during? Starting Credit Line if told or not?

2. If you knew or didn't know spending before, what was it once hard limit?

3. Do you think the Hard Limits came as part of the transition to Capital One?

4. and now back to my thought about Household, I think the same for Capital One... they have the lending power to honor those Credit Lines??

Just in my store alone the Customer Service Supervisor that would work with credit when it came to trying to "take care of a good client" said she knew people all the time that would come walk in and write a ceck to pay bill for $300k quite often and had seen up to $750kish in a month!!!

[snowangel]

1. Did you get your card before Household or during? Starting Credit Line if told or not? I had one over 12 years ago, closed it because i moved.  Dont remember the limit, if there was one.  Wasn't a big spender on it, just wanted it because they only took cash/amex.  They have some really great sales.  Closed it when I moved, no Neimans in NYC.  Opend up a new card last Sept, approved for 2500.  Learned that it could be used at Bergdorfs  But it still doesn't see much use.  

2. If you knew or didn't know spending before, what was it once hard limit?  This is the only card that doesn't show my credit limit anywhere online.  I had to ask when I was approved this last time.

3. Do you think the Hard Limits came as part of the transition to Capital One? I'm going to say no to this, because I think my hard limit was set upon approval and before that cap one deal was being talked about.

4. and now back to my thought about Household, I think the same for Capital One... they have the lending power to honor those Credit Lines?? hmmmmmm

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